The Rise of The Indian Empire is universally agreed upon. A nationalistic perspective on global outlook further glorifies the India story. The aim of this scripting is to analyze Indian Economic Development. According to the IMF, India is expected to contribute of the global growth, while the United States and Euro Area combined are expected to contribute collectively in FY - . The main drivers of economic growth remain infrastructure development, eradication of poverty and unemployment, improving access to education, healthcare and credit, strengthening the country’s lower and middle class, technological advancement in the digital economy and a self-reliant, import-substituting economy with green and sustainable development. ‘The arrow shot by the archer may or may not kill a single person.
But stratagems devised by wise men can kill even babies in the womb.’ – Kautilya Framework of the duality between state-interventionist, socialist principles and private, capitalist enterprise is past it’s time. The New Indian Economic Framework fortifies greater privatization, fosters innovation through advancement in digital whatsapp mobile number list technology, and a service-based market economy, integrating India’s position in the world economy. Infrastructure Development: With increasing capital allocation toward infrastructural development and urban connectivity every budget, infrastructure remains a key driver of economic growth.
The infrastructure capex for FY stands at lakh crore ( of GDP), with an allocation of . lakh crore to boost urban connectivity via several road, railways, and metro projects as well as ports and petroleum pipelines. ‘The emphasis on capex in recent years is expected to boost GDP growth directly, and indirectly through multiplier effects on private consumption expenditure and private investment.’ – Chief Economic Adviser, Anantha Nageswaran The implementation of the PM Gati Shakti-National Master Plan will facilitate the efficient movement of capital, labor, goods, and services. Greater connectivity through an efficient, integrated network between metropolitan cities.